More electricity contracts launched by exchanges

Nodal Exchange, LLC and LCH.Clearnet Ltd (LCH.Clearnet) have expanded the range of contracts settling on Electric Reliability Council of Texas (ERCOT) locations to 32. Available to trade and clear from today, the contracts consist of monthly expiries based on both Real Time and Day Ahead prices across all 4 ERCOT hubs and all 4 ERCOT zones, for both peak and off-peak time periods.

Cleared by LCH.Clearnet, the contracts are available for 4 years of forward trading on both the Nodal Exchange auction market and its over-the-counter trade submission facility for negotiated transactions.

“We are very happy to be able to extend our offering in ERCOT to cover all hubs and zones for both Day Ahead and Real Time settled contracts,” said Paul Cusenza, Chief Executive Officer of Nodal Exchange. “The ERCOT market is an exciting market and we look forward to continuing to meet the needs of our participants with this and future expansions in products and services.”

Alberto Pravettoni, managing director, corporate strategy, LCH.Clearnet said: “ERCOT’s recent transition to a nodal model has opened new trading opportunities. As the ERCOT market evolves we remain committed to providing the highest level of counterparty risk management.”

Since its launch in 2009, Nodal Exchange has introduced over 50,000 expiries on over 3,600 Day Ahead and over 100 Real Time settled power contracts. In addition, the company also offers a contract on Henry Hub for natural gas. All Nodal Exchange contracts are financially settled

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